Clarity New Zealand Equity Fund
Managed by Clarity PIE tax treatment — capped at your PIR (max 28%)
This fund is a Portfolio Investment Entity (PIE) under Subpart HM of the Income Tax Act 2007. Income is taxed at your Prescribed Investor Rate (10.5% / 17.5% / 28%), not your marginal income-tax rate. The fund manager calculates and pays the tax on your behalf — when your PIR is correct, you usually don't need to declare PIE income in your annual tax return. See our PIR guide and PIE tax basics for the full picture, or use the PIR calculator to confirm your rate.
Annual fund charge
1.06%
vs peer avg 0.91%
Risk indicator
4/7
1 = lower risk · 7 = higher risk
5-year return p.a.
1.68%
peer avg 4.91%
Fund size
NZ$12.6m
98% growth · 2% income
The Fund will provide actively managed exposure to New Zealand equities. The Fund aims to generate a better return than the benchmark over the medium to long term. We intend for the Fund to make quarterly income distributions.
Key facts
Fund start date
25 October 2019
Min. investment
NZ$10,000
Tax structure
PIE
Capped at your PIR (max 28%)
How this fund compares to peers
Mechanical comparison vs the 58 other australasian equities funds in our cohort. Source: FMA Disclose register via Sorted Smart Investor. Past performance is not a reliable indicator of future returns.
Annual fund charge
1.06%
Category median: 1.01%
Mid-pack — cheaper than 41% of peers
5y return p.a. (after fees)
+1.68%
Category median: +1.68%
Above peer median (50th percentile)
Fund size
NZ$12.6m
Category median: NZ$74.1m
13th percentile by AUM
Illustrative 5y fee impact on a sample balance of $10,000
$519
Compounded charge over 5 years (excl. returns)
$24 more than peer median
Mechanical scores only — no opinion or recommendation. Different funds suit different investor goals. ManagedFundsNZ is not a Financial Advice Provider. Read the current PDS and consider speaking to a licensed financial adviser.
Top 10 holdings
As at the latest published quarterly fund update (via Sorted Smart Investor).
| Holding | % of fund |
|---|---|
 Fisher & Paykel Healthcare Ltd | 13.53% |
 Infratil Ltd | 9.44% |
 Auckland International Airport Ltd | 8.48% |
 Meridian Energy Limited | 6.64% |
 Contact Energy Ltd | 6.33% |
 A2 Milk Company Ltd | 6.15% |
 Ebos Group Ltd | 4.34% |
| $ NZD Cash at Bank | 4.02% |
 Mercury NZ Limited | 3.86% |
 Summerset Group Holdings Ltd | 2.63% |
Documents
Every dated PDS, quarterly fund update and full-portfolio holdings file. Linked from the FMA Disclose register via Sorted Smart Investor.
- CLARITY NEW ZEALAND EQUITY FUND (FND16067) Full portfolio holdings 31 March 2026.xlsx Download the full portfolio holdings. XLSX, 1.34 KB
- Clarity PDS Document 2 April 26 FINAL.pdf How this investment works, including about the provider, risks, costs and potential returns PDF, 1.01 MB
- Clarity New Zealand Equity Fund 31 March 2026.pdf The quarterly update published by the provider PDF, 293.60 KB
- Enhanced Cash PIE PDS 2 Apr 26 FINAL.pdf Additional product disclosure statement from the provider PDF, 232.17 KB
- Clarity OMI Document 2 April 26 FINAL.pdf Other information related to the Clarity Funds, TAHITO and the Enhanced Cash PIE to supplement and be read in conjunction with, the Product Disclosure Stateme
- TAHITO PDS 13 May 26 Final.pdf Additional product disclosure statement from the provider PDF, 2.14 MB
- Combined SIP Os TAHITO 13 May 26 Clarity 02 Apr 26 Enhanced Cash PIE 02 Apr 26.pdf Statement of investment policy and objectives PDF, 3.09 MB
About this category
Funds investing primarily in shares listed on the NZX (New Zealand) or ASX (Australia), or both as Trans-Tasman portfolios. Includes active stock-pickers and passive index trackers.
About Clarity
NZ-owned manager of the Clarity Funds Scheme — diversified, fixed-income, dividend-yield and Capital Group-partnered global strategies. Co-tenants the scheme with TAHITO.
See all funds from Clarity →Head-to-head
Compare Clarity New Zealand Equity Fund with…
Side-by-side numbers — fees, returns, risk, fund size, asset mix.
Peer funds
Other Australasian Equities funds
AI & integrations
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Frequently asked questions
Mechanical Q&A grounded in the fund's PDS, SIPO, and latest QFU on the FMA Disclose register. Verify against the source before relying on any of this.
Who manages the Clarity New Zealand Equity Fund?
Clarity New Zealand Equity Fund is managed by Clarity. NZ-owned manager of the Clarity Funds Scheme — diversified, fixed-income, dividend-yield and Capital Group-partnered global strategies. Co-tenants the scheme with TAHITO.
What asset class is the Clarity New Zealand Equity Fund?
It is a australasian equities managed fund. The fund has a growth risk profile. Funds investing primarily in shares listed on the NZX (New Zealand) or ASX (Australia), or both as Trans-Tasman portfolios. Includes active stock-pickers and passive index trackers.
What are the fees for the Clarity New Zealand Equity Fund?
The annual fund charge for the Clarity New Zealand Equity Fund is 1.06% p.a., as reported in the latest Quarterly Fund Update sourced from the FMA Disclose register. Always check the current PDS for any additional fees.
What is the risk indicator for the Clarity New Zealand Equity Fund?
The risk indicator is 4/7 on the standardised FMA-mandated scale, where 1 is lower risk and 7 is higher risk. The risk indicator is calculated from the fund's price volatility over the past five years and is published in every Quarterly Fund Update.
Is the Clarity New Zealand Equity Fund a PIE fund?
Yes. The Clarity New Zealand Equity Fund is structured as a New Zealand Portfolio Investment Entity (PIE). Investor tax on the fund's income is capped at the investor's Prescribed Investor Rate (PIR), which has a maximum of 28%. Most NZ-resident retail investors with a taxable income at or below NZ$48,000 qualify for a lower PIR.
How big is the Clarity New Zealand Equity Fund?
Fund size (assets under management) is NZ$13 million as at the latest Quarterly Fund Update. Asset mix is approximately 98% growth assets and 2% income assets.
What does the Clarity New Zealand Equity Fund invest in?
The latest published top holdings are: Fisher & Paykel Healthcare Ltd (13.53%), Infratil Ltd (9.44%), Auckland International Airport Ltd (8.48%). Holdings are disclosed in each Quarterly Fund Update; the full portfolio holdings file is also available via the FMA Disclose register.
How can I invest in the Clarity New Zealand Equity Fund?
The Clarity New Zealand Equity Fund is available via InvestNow, Clarity directly. Always read the current Product Disclosure Statement before investing.